Valdis Dombrovskis calls for global response to rise of cryptocurrencies at industry roundtable

The European Union has warned that it will regulate cryptocurrencies if the risks exposed by the meteoric rise of bitcoin and its ilk are not addressed.

The boom and bust of cryptocurrencies has seen some investors make millions where others have suffered heavy losses. Bitcoin, which now trades around $9,000 a token but recently dropped to less than $6,000, leads the pack rising nearly 2,000% to just under $20,000 in 2017, fuelling a global investment craze.